On Monday, November 5, the U.S. will not only be re-imposing the sanctions that were in place before the insane Iranian nuclear deal was entered into, but there'll be over several hundred designations, Pompeo said.

On Friday, Donald Trump'sUnited States administration announced the restoration of sanctions on Iran's shipping, financial and energy sectors, the second batch of penalties to be restored after the USA president withdrew the U.S. from the 2015 nuclear agreement in May.

Iranian state media said millions turned out for rallies in most cities and towns around the country, swearing allegiance to the clerical establishment and its hardline authority, Supreme Leader Ayatollah Ali Khamenei.

In May, U.S. President Donald Trump pulled out of the 2015 Joint Comprehensive Plan of Action (JCPOA) with Iran, terming it as "disastrous".

Having abandoned the 2015 Iran nuclear deal, President Donald Trump is trying to cripple Iran's oil-dependent economy and force Tehran to quash not only its nuclear ambitions and ballistic missile program but also its support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East.

Meanwhile, Iranian state television reported that the Islamic Republic had started production of the locally-designed Kowsar fighter plane for use in its air force.

The US had insisted on cutting exports to zero but that seems unlikely as it would increase the price of oil, says Scott Lucas, a professor of global politics at Birmingham University.

With limited exceptions, the re-imposed USA sanctions will hit Iran as well as countries that do not stop importing Iranian oil and foreign firms that do business with blacklisted Iranian entities, including its central bank, a number of private financial institutions, and state-run port and shipping firms, as well as hundreds of individual Iranian officials.

"The administration has indicated it will not support requests by foreign governments or companies for exemptions", the report said.

Mr Pompeo said the sanctions are "aimed at depriving the regime of the revenues it uses to spread death and destruction around the world".

"Until then, our historic sanctions will remain in full force", he said, hours after his two Cabinet members, Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin, announced that the US would reimpose a series of crippling sanctions on Iran beginning on Monday. "But, as you know, sanctions are starting on Iran and, Iran is taking a very big hit", he said. "Iran's oil exports are decreasing and difficulties paying Iran for oil with hard currency are evident". "These concessions are critical to ensuring that we increase our maximum pressure campaign and accelerate towards zero", Pompeo said.

Two of the countries will completely cut off imports of Iranian oil, while the other six will "greatly" reduce their imports, Pompeo added.

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